This today from the AP wire service:
3.24.12: NEW YORK -- Bank of America says it has begun a pilot program offering some of its mortgage customers who are facing foreclosure a chance to stay in their homes by becoming renters instead of owners.
(Let me condense the plan here: For 1,000 BofA customers in AZ, NV and NY, the bank will take back the title, lower the rent to below prevailing rent for similar properties, and pick up insurance and taxes. The lucky occupants can remain in their homes for up to 3 years.)
If the pilot works out, I presume by that to mean homeowners do not set fire to the house or the bank, it will be expanded nationwide to (in their words) "stabilize property values" in communities where a lot of empty homes are falling into disrepair, to "curtail neighborhood blight."
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I've got a question.
If only a couple of conglomerates control all the meat production and processing...
and if only a few more own all the grocery chains...
and a few others the petrol and utilities...
and the insurance companies...
and the government is now trying to join in
with nationalized healthcare...
and the banks now will snatch up a full quarter of the homes
in the most desirable places to live ...
how are we protecting our free
enterprise and democratic systems
of individual rights and opportunities?
Seems to me we're being set up to be beholdin' to a nationalized version of The Company Store.
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